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Net Sales
9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Net Sales Net Sales
Our revenues are primarily derived from the manufacture and sale of petroleum additives products. We sell petroleum additives products across the world to customers located in the North America (the United States and Canada), Latin America (Mexico, Central America, and South America), Asia Pacific, and EMEAI (Europe/Middle East/Africa/India) regions. Our customers primarily consist of global, national, and independent oil companies. Our contracts generally include one performance obligation, which is providing petroleum additives products. The performance obligation is satisfied at a point in time when products are shipped, delivered, or consumed by the customer, depending on the underlying contracts.
In limited cases, we collect funds in advance of shipping product to our customers and recognizing the related revenue. These prepayments from customers are recorded as a contract liability to our customer until we recognize the revenue. Some of our contracts include variable consideration in the form of rebates or business development funds. We regularly review both rebates and business development funds and make adjustments when necessary, recognizing the full amount of any adjustment in the period identified.

The following table provides information on our net sales by geographic area. Information on net sales by segment is in Note 3.
Third Quarter Ended
September 30,
Nine Months Ended
September 30,
(in thousands)2022202120222021
Net sales
United States$242,631 $219,912 $716,913 $580,799 
China30,578 56,470 145,008 202,523 
Europe, Middle East, Africa, India217,108 188,603 616,438 533,732 
Asia Pacific, except China119,566 81,174 338,405 247,575 
Other foreign86,166 76,048 265,476 214,914 
Net sales $696,049 $622,207 $2,082,240 $1,779,543